This is the same advice my insurance company gave me: take pictures,
document everything and save all receipts, including your proof of purchase
price, car show awards count too. They'll even keep a copy of it all on file
for you (but keep a copy for your records too). They also use a "Classic Car
Guide" for determining value before you make improvements. It's the 1,2,3,4
etc. rating system, from rolling wreck to concurs. Compared to the
specialized insurance companies, I pay dearly ($1000 less the annual 20%
dividend, so I net out at $800 per year for the TR6) but I've got no
restrictions and tons of coverage. I've been with them for 28 years for all
my cars and houses and have been treated extremely fair on every claim I've
had ........... hmmmmmmm there was the time the wife FORGOT she was in the
Suburban (!) and pulled into the garage and ripped the tripod mirror right
out of the passenger door, then the time the 16 year old let his underage
friend drive the Subaru Wagon........... through a stop sign (which pedal is
the brake?) and t-boned a parked Camaro, a couple of Audis that were broken
into, my brand new Mazda Millenia rearended at a stoplight to the tune of
$13,000....... I'd give up driving and ride my bike but someone walked into
the garage and stole that a few years ago! They've paid every claim promptly
and fairly, always in my favor, have never threatened to drop us or raise
our rates anything more than a very insignificant amount. I guess that's why
they are always rated number 1 in the Consumer Reports insurance issue.
Bob Danielson
75 TR6 - Status at
http://pages.cthome.net/BobD
-----Original Message-----
From: Barry Schwartz <bschwart@pacbell.net>
To: Kevin B. Rhodes <krhodes1@maine.rr.com>
Cc: triumphs@autox.team.net <triumphs@autox.team.net>
Date: Wednesday, April 15, 1998 5:21 PM
Subject: Re: LBC insurance (opinions)
>
> < snip >
>>I would like to have it insured such that I would get around
>>$4000 if it was "totaled" I feel like this is a realistic value for the
car
>>based on various pricing guides and what I have seen around. My regular
>>insurance company (Geico) will gladly insure it for ~ $180 / year - but
>>they tell me that they will only give me "a couple hundred dollars -
> < snip >
>***********************************
>You really have a couple of avenues. You can have it professionally
>appraised and then insure it for the appraised value, or, keep all
>receipts, take pictures, document, document, document. Then if it ever is
>stolen, or damaged, you can take em, or threaten to take them to court.
>They WILL end up paying what the car is worth regardless of what the policy
>says as long as you can prove it with documents and back it up with
>pictures. Awards from car shows are a plus-. My brother went through this
>a few years ago. It takes YOUR time and patience, so I guess you have to
>weigh the possibility of having to go through all the trouble of getting
>reimbursed in the off chance your car is stolen or totaled, or have it
>appraised, pay for it up front, and settle it on the spot with a lot less
>hassle and time wasted-
>
>Barry Schwartz (San Diego) bschwart@pacbell.net
>
>72 V6 Spitfire (daily driver)
>70 GT6+ (when I don't drive the Spit)
>70 Spitfire (project)
>73 Ford Courier (parts hauler, rain vehicle, getting a V6 soon!)
>
|